Dorian LPG (NYSE:LPG) Issues Earnings Results, Beats Estimates By $0.61 EPS

Dorian LPG (NYSE:LPG) issued its quarterly earnings data on Wednesday. The shipping company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.61, FiscalAI reports. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The business had revenue of $221.35 million during the quarter, compared to analyst estimates of $194.90 million. During the same quarter last year, the business earned $1.31 EPS. The firm’s quarterly revenue was up 78.4% on a year-over-year basis.

Dorian LPG Trading Down 6.7%

Dorian LPG stock traded down $3.29 during mid-day trading on Thursday, hitting $46.14. 777,282 shares of the stock were exchanged, compared to its average volume of 598,151. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.11 and a beta of 0.64. Dorian LPG has a 12 month low of $23.76 and a 12 month high of $59.97. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $54.26 and its two-hundred day simple moving average is $42.26.

Dorian LPG Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, November 9th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, November 9th. Dorian LPG’s dividend payout ratio (DPR) is presently 13.25%.

Insider Activity

In other news, insider Tim Hansen sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the sale, the insider directly owned 107,675 shares of the company’s stock, valued at approximately $5,719,696. This represents a 31.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Theodore Young sold 11,919 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the sale, the chief financial officer owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. This trade represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 106,000 shares of company stock valued at $5,455,849. 13.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on LPG shares. Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a report on Tuesday, August 25th. Finally, Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $55.00.

Dorian LPG Company Profile

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.

Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.